Manama: Bahrain is providing necessary support to small businesses in a bid to encourage youth to become job providers rather than job-seekers.
“We need to unite in our efforts encouraging leaders, society and youth to take risks and establish their own business to become job providers, so they contribute more to the economy,” Industry, Commerce and Tourism Minister Zayed Al Zayani said yesterday.
He was speaking at the opening of the first-ever Junior World Entrepreneurship Forum (JWEF) in Bahrain, being held at the Diplomat Radisson Blu Hotel, Residence and Spa.
The two-day forum is organised by the Origin Group in co-operation with UNIDO, British Council and University of Applied Sciences.
The minister said the forum was in line with the ministry’s strategy to develop small businesses and entrepreneurship and to increase their contribution to
the economy.
“Since many years Bahrain has been at forefront of international trade and today there are a lot of well-established
businesses.
“Many businesses started their operations outside Bahrain due to the relatively small size of the economy.”
The minister said Bahraini pioneers in trade overcame obstacles like absence of technology, difficult travel conditions and banking terms and ventured to unknown territories and established their businesses.
“We need the same kind of spirit again.”
A huge gap exists between government, semi government and privately-owned companies and small businesses in the economy of Bahrain, the minister said.
“We don’t have a sector that occupies the middle segment of the economy.”
Mr Al Zayani said the government was providing all kinds of encouragement to SMEs, to change the mindset of youths to become job providers instead of job seekers.
Youngsters are not restricted by age, there is no age limit to start a business, he said.
The minister also stressed the importance of learning from mistakes and using failure as a stepping stone to success.
The Junior World Entrepreneurship Forum is a global initiative derived from the World Entrepreneurship Forum. It is a global community of students and young entrepreneurs, that aims to promote and accelerate junior entrepreneurship globally.
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